Pan-African financial institution, United Bank for Africa Plc , yesterday announced its audited results for the full-year ended December 31, 2020, recording impressive growth across its top and bottom lines.
Its profit before tax rose by 18.4 per cent to N131.9 billion, from N111.3 billion in 2019 while PAT grew faster by 27.7 per cent to N113.8 billion compared to N89.1 billion recorded in 2019. The bank’s total assets also grew by 37.0 percent to N7.7 trillion for the year under review. A further analysis of the results showed that UBA recorded a remarkable 24 per cent growth in loans to customers, while customer deposits increased by 48.1 per cent to N5.7 trillion, compared to N3.8 trillion recorded in 2019. This reflected increased customer confidence, enhanced customer experience, successes from the ongoing business transformation programme and the further deepening of its retail banking franchise.
Our earnings per share of N3.20 is a 26.8 per cent growth from the preceding year, as we continue to ensure maximum value creation for our highly esteemed shareholders.” Speaking on the bank’s strategy, he said: “Our primary strategy will continue to focus on providing excellent services from our customers’ standpoint, putting the customer first always. Looking ahead, I am inspired by the achievements we have made since the launch of our transformation programme. We have expanded market share considerably across the geographies where we operate and are consolidating our digital banking leadership in Africa.
All this voodoo economic in Nigeria. Despite recession and full year of COVID this people still declare increase earnings yet their shareholders get poorer. We feel the growth in executives earnings
While the dividend per share dropped to 0.35k
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